Pioneer Trust Bank N A OR increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,783 shares of the industrial products company’s stock after acquiring an additional 1,763 shares during the period. Illinois Tool Works comprises 2.1% of Pioneer Trust Bank N A OR’s investment portfolio, making the stock its 24th biggest position. Pioneer Trust Bank N A OR’s holdings in Illinois Tool Works were worth $4,848,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Vanguard Group Inc grew its stake in shares of Illinois Tool Works by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 25,617,374 shares of the industrial products company’s stock valued at $3,615,123,000 after purchasing an additional 317,172 shares during the last quarter. Northern Trust Corp grew its stake in shares of Illinois Tool Works by 2.2% in the 4th quarter. Northern Trust Corp now owns 14,161,839 shares of the industrial products company’s stock valued at $1,794,164,000 after purchasing an additional 309,895 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Illinois Tool Works by 12,441.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042,210 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 9,962,137 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Illinois Tool Works by 27.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,820,157 shares of the industrial products company’s stock valued at $1,117,426,000 after purchasing an additional 1,907,471 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Illinois Tool Works by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock valued at $825,423,000 after purchasing an additional 274,579 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on ITW shares. BMO Capital Markets reduced their price target on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating for the company in a report on Monday, February 25th. Stifel Nicolaus raised their price target on Illinois Tool Works from $137.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Citigroup cut Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 price target for the company. in a report on Monday, January 14th. JPMorgan Chase & Co. raised Illinois Tool Works from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $120.00 to $144.00 in a report on Friday. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $124.00 price objective on shares of Illinois Tool Works in a report on Tuesday, January 22nd. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $142.13.
Illinois Tool Works stock opened at $153.59 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 1.85. The firm has a market cap of $50.21 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.58 and a beta of 1.19. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $158.69.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.01. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.64 billion. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. On average, research analysts anticipate that Illinois Tool Works Inc. will post 7.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 29th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, March 28th. Illinois Tool Works’s dividend payout ratio is currently 52.63%.
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Illinois Tool Works Company Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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